The Latest

Swift has tapped British defense contractor BAE Systems and Dutch security firm Fox-IT to support an information sharing and threat intelligence program for member banks.

More than 46 million P-to-P transfers traveled over the rails of Early Warning's clearXchange during the first quarter of 2016 accounting for about $16 billion, according to the the bank-owned payments network. It’s the first time the organization has released numbers quantifying the service’s P-to-P payments volume.

Banks are experimenting with apps and mobile features that are available to everyone as they search for new ways to connect with potential customers.

Nebraska Credit Union League in Omaha has partnered with First Data's Star Network.

At least eight small mutuals have agreed in recent years to merge with another institution rather than convert to stock ownership. More deals could be on the way.

Swift has tapped British defense contractor BAE Systems and Dutch security firm Fox-IT to support an information sharing and threat intelligence program for member banks.

Spanish gasoline retailer Repsol this week augmented its Near Field Communication-based mobile payments services by launching an app enabling motorists to pay for fuel without leaving the car.

First Hawaiian Bank in Honolulu will be spun off rather than sold.

An industrywide springtime boomlet in business activity shed some of its momentum in June, according to the latest reading of American Banker's Index of Banking Activity. The IBA's composite index dipped to 54.9, down from 57.0 a month earlier. While that suggests an industry in modest expansion, it also is the weakest reading since January.

Most components of the index declined from their May levels and two of them — both of which track pricing on new lending — slipped below 50, suggesting that banks on balance lost whatever modicum of pricing power they had coming into the month.

In addition, respondents to the June survey were generally cautious about their consumer lending businesses (although a fair share of individual respondents remained upbeat, particularly with respect to auto lending).

All in all, the June results pointed to an industry more guarded in outlook, which is not surprising given the prevalence of concern that events at home and abroad (Brexit) would further postpone interest rate increases by the Federal Reserve.

Click here for full report.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.